TMCNET eNEWSLETTER SIGNUP

(OMX Via Acquire Media NewsEdge)
Klaipeda, Lithuania, 2014-01-08 07:50 CET (GLOBE NEWSWIRE) --
In December 2013 the Board of Directors of PC “Lithuanian Shipping Company” has
approved company’s strategic business plan for the years 2014-2016, which
provides a consistent renewal of the company’s fleet, concentrating on the “
Handysize” segment (17-25 thousand tons tonnage ships). During the
implementation of the strategic business plan smallest motor vessels of the
company will be sold and 1-2 bigger tonnage vessels will be bought.

According to general director of PC “Lithuanian Shipping Company” Audronis
Lubys, as the global fleet concentration is taking place, the company refuses
smaller motor vessels employed in the coastal shipping and plans to buy bigger
tonnage ships of “ Handyzise” segment, which would be employed in transatlantic
shipping market.

Strategic goal of the company – to become a leader of the bulk carriers market
(in 17-25 thousand tons tonnage segment) in the Baltic Sea region, maintaining
modern and profitable fleet flying the flag of the Republic of Lithuania.

Consistent implementation of the approved strategic business plan will be the
base of the successful and profitable activities of the company.

“With the favorable situation in the global shipping market, we do not
exclude the possibility to add a “ Handysize” segment’s vessel to the
company’s fleet in the second part of this year. This way, not only the fleet
would be renewed, but also the fleet’s total tonnage would be maintained”,
- underlined A. Lubys.